Lovell Minnick Partners said Nov. 13 that it closed its majority investment in SRS Acquiom. Financial terms weren’t announced. SRS Acquiom, of Denver, provides a platform of professional services, technology solutions and data for corporate acquirers, private equity firms and venture capital firms involved in M&A settlement support and risk mitigation. Kirkland & Ellis LLP served as LMP’s legal counsel. Cowen and Company acted as financial adviser to SRS Acquiom, while Latham & Watkins LLP served as SRS Acquiom’s legal counsel.
PHILADELPHIA, LOS ANGELES and NEW YORK, November 13, 2018 – Lovell Minnick Partners (“LMP”), a private equity firm specializing in financial and related business services companies, announced it has completed a majority investment in SRS Acquiom (the “Company”), a market-leading provider of technology-enabled services related to M&A settlement support and risk mitigation.
Founded in 2007 by Paul Koenig, Mark Vogel and Jason Mendelson and headquartered in Denver, SRS Acquiom provides an integrated platform of professional services, technology solutions and data that enables corporate acquirers, private equity firms and venture capital firms to navigate the complex M&A deal execution process more efficiently. The Company has managed over 2,200 deals, representing 205,000 shareholders, valued at over $340 billion.
“SRS Acquiom has a strong history of innovation and offers best-in-class solutions for managing and simplifying M&A processes throughout the transaction lifecycle,” said Steve Pierson, Managing Partner at LMP. “We look forward to supporting the Company in its continued growth, including the cultivation of next generation transaction support products, data analytics and new services.”
SRS Acquiom offers an expansive range of services, including post-closing shareholder representation, payment agency, escrow administration, representation and warranty insurance brokerage, and pre-closing shareholder solicitation. The company also boasts an extensive database of private M&A data that provides insights to help dealmakers determine appropriate transaction terms. The Company has served some of the largest and most well-known venture capital firms, private equity firms and corporate acquirers across the world.
“LMP’s strong network within financial services and experience investing in technology-enabled services businesses will expand and enhance our ability to offer market-leading M&A services to our clients across our increasingly global footprint,” said Paul Koenig, co-founder and CEO of SRS Acquiom. “We are experiencing strong demand for our platform of solutions from both new
and existing clients, and we look forward to working with LMP to put the next phase of our strategic growth plans into action.”
“The SRS Acquiom team has built out an impressive presence in the United States, and we fully support the Company’s plans to expand its product offerings and to grow internationally,” added Brad Armstrong, a Partner at LMP. “At Lovell Minnick, we have had a long and successful history of supporting portfolio companies in executing upon both organic and inorganic growth initiatives, and we believe the Company is well-positioned to grow through add-on acquisitions of complementary products and services.”
SRS Acquiom’s management team will continue in their current roles and employees will continue to hold a significant investment in the Company alongside LMP. Prior investors, including Revolution Ventures and Top Tier Capital, will also participate in this transaction and will continue to support the company’s growth.
“I’d like to thank our dedicated employees, our Board of Directors and all of our current shareholders for helping us to build SRS Acquiom into the market leader it is today,” said co-founder and Vice Chairman Mark Vogel. “Together, we have turned an entrepreneurial idea into a business serving blue-chip clients involved in some of the market’s most significant M&A transactions. We look forward to ongoing success and growth in partnership with LMP.”
“SRS Acquiom started with a simple idea that M&A deals could be done better,” said co-founder Jason Mendelson. “The company has been passionate about that mission and has grown today into an amazing company that I am proud to have been a part of since the beginning.”
Since its inception, SRS Acquiom has developed value-added, innovative products for M&A transactions, including the following: SRS Acquiom MarketStandard, a technology platform allowing deal makers to apply filters on over 150 deal attributes using the largest private target M&A deal database to help negotiate deal terms; SRS Acquiom Clearinghouse, the first and leading online M&A payments platform allowing shareholders to submit required electronic paperwork within minutes and to be paid on the same day; SRS Acquiom ComPort, a portal that provides shareholders with a summary of metrics such as transaction distributions, claims, expenses and disbursements; and, SRS Acquiom Deal Dashboard, which provides acquirers with online access for managing escrow balances, assessing shareholder payment status and reviewing summarized transaction terms for all prior transactions completed by the acquirer.
Kirkland & Ellis LLP served as LMP’s legal counsel. Cowen and Company acted as exclusive financial advisor to SRS Acquiom, while Latham & Watkins LLP served as SRS Acquiom’s legal counsel.
About SRS Acquiom
SRS Acquiom, headquartered in Denver with offices in San Francisco, New York, Los Angeles, Chicago, Boston, London and Tel Aviv, is the global leader for managing closing and post-closing M&A activity, providing a comprehensive platform of services including shareholder representation, M&A payments and M&A risk management, including escrow administration and representation and warranty insurance brokerage. With more than 2,200 deals valued at over $340 billion, SRS Acquiom has made a business out of constant innovation with a singular purpose: helping deal parties and their advisors gain the freedom to do more. For more information, please visit srsacquiom.com.
About Lovell Minnick Partners LLC
Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. With offices in Philadelphia, Los Angeles and New York, Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $2.7 billion in committed capital and has completed investments in over 45 companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance brokerage and services, financial and insurance technology and business services. For more information, please visit www.lmpartners.com.